Success Factor Number Three: Extra Income Stream

Continuing on with my “success factors” video series, in this video I discuss something that successful people often do that isn’t often considered. That is, they develop multiple streams of income.

If you know me well, you know that I don’t believe that having lots of money is the be-all-end-all of success. There are some people rolling in millions and are miserable. I would not call them successful. On the other hand, there are some people who make just enough money to feed, clothe, and shelter themselves and their family, but they are happy and fulfilled and would absolutely tell you that they are leading a successful life.

Nevertheless, if it is within your power to do so (and if you can afford a computer and Internet service, it is), having more than one stream of income flowing into your life is beneficial. First, if one stream dries up – for example, you lose your day job – you have at least a small cushion from the other income stream. Second, you may have big dreams that can’t be financed by a regular job with an average income. In such a case, you might want to augment your day job earnings with something else you do on the side; say, selling stuff on eBay during the evenings.

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